According to estimates, Singapore’s economy benefits approximately US$400 million from the concerts of American singer Taylor Swift.

According to Edwin Tong, Singapore’s Minister of Culture, Community, and Youth, “I can assure members of the House that the economic benefits to Singapore are assessed to be significant,” his statement was reported by The Straits Times.

He outlined the direct economic benefits, such as a rise in visitor numbers, expenditure on travel, lodging, and tickets, as well as increased spending on entertainment, shopping, and dining in Singapore.

According to Erica Tay, director of macro research at Maybank, Swift’s concerts are expected to bring in S$350–500 million ($260.3–371.9 million) in tourism receipts, assuming that roughly 70% of attendees are traveling from outside.

Hotel reservations in Singapore for March 2024 increased by 10% after the concert dates were revealed, according to data from hotel analytics firm Smith Travel Research.

The demand for flights to Singapore surged in March, according to budget airline Scoot and Singapore’s flagship carrier Singapore Airlines, especially from Southeast Asia.

According to CNBC, Jetstar Asia has verified a notable 20% increase in demand for its routes that link Singapore with locations such as Bangkok, Manila, and Jakarta.

Following Swift’s announcement of her Singaporean results, UOB, a regional bank based in Singapore, observed an average 45% rise in daily credit card applications in Singapore, Thailand, Malaysia, Indonesia, and Vietnam in July 2023. The spike was explained by the fact that concert tickets were made available to UOB cardholders early.

It was projected that her Eras Tour in the United States last year brought in almost $4.6 billion in sales.

Positioning “concert economics” as a new engine of prosperity, Singapore hopes to increase tourism receipts by hundreds of millions of dollars.